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Consumer Proposal

55 articles

Person experiencing financial stress with the title "Ontario Consumer Proposal vs Bankruptcy," illustrating debt relief options available to Ontario residents.
Consumer Proposal 11 min

Consumer Proposal vs Bankruptcy: Comparing Debt Relief Options in 2026

Debt problems often build gradually, not overnight. What starts as using credit for groceries or utilities can turn into minimum payments, borrowing to cover other debt, and eventually missed payments and collection calls. This guide explains the 4 stages of debt escalation, warning signs to watch for, and the debt relief options available in Ontario if debt is becoming harder to manage.

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Person sitting with hands on their head surrounded by bills, receipts, credit cards, and financial documents, representing financial stress and debt problems in Ontario.
Financial 7 min

Canadian Debt Problems in 2026: What’s Happening in Ontario

Debt pressure remains high across Ontario in 2026 as rising living costs and expensive borrowing make it harder for many Canadians to keep up financially. This guide explains why debt problems are increasing, what happens when payments are missed, and what options may be available under Canadian insolvency law.

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a business mans hands rejecting a consumer proposal file
Consumer Proposal 5 min

Can Creditors Refuse a Consumer Proposal? What Happens Next?

Once a consumer proposal is filed, the creditors are given a period to respond and vote on whether they accept the proposal. If they reject the proposal, the situation becomes more complex, but that doesn’t mean all is lost. At the Litvack Group, we’re here to help you regain control of your finances and work towards a brighter financial future.

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a man with his hand in his hand with a laptop and bills on his desk
Consumer Proposal 6 min

Can You File a Consumer Proposal More Than Once in Canada?

Can you file a consumer proposal more than once in Canada? The short answer is yes, but there are important factors to consider. This article explains how consumer proposals work, what happens if you need to file again, eligibility requirements, and alternative debt relief options to help you make informed financial decisions.

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Rebuild Your Credit After a Consumer Proposal
Consumer Proposal 5 min

Rebuild Your Credit After a Consumer Proposal

Finishing a consumer proposal is a major achievement, it means you've taken control of your debt and followed through on a legally binding plan to repay what you could afford. But while the stress of collections and legal action is behind you, the next big question many people ask is: how do I rebuild my credit score?

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How a Consumer Proposal Affects Your Tax Return in Canada in 2026
Consumer Proposal 4 min

How a Consumer Proposal Affects Your Tax Return in Canada in 2026

Key Takeaways When you file a consumer proposal, you will still be responsible for filing all past and future tax returns. You can keep future tax refunds except for the year of filing the consumer proposal if your tax debts were included in your consumer proposal. Navigating financial challenges can be overwhelming, and many Canadians turn to a consumer proposal to regain control of their finances. While this legal debt-relief solution offers numerous advantages, it can also raise questions...

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